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A tubular lock is a variation of a pin tumbler lock, where the pins are arranged in a circle facing the front of the lock and are operated by a tubular key. It was once referred to as an ACE lock, with ACE being a trademark of the Chicago Lock Company, but the generic term tubular lock is far more common these days.
A tubular lock or latch is a smaller version of a morticed lock. The piece does not actually lock the door but it does allow room for a spindle (metal rod) to fit, in order to turn handles. If you take the image above, you can see that on the right hand side, there is a square like hole. This is used for a spindle. The spindle sits between 2 handles.